About Residence by Investment Law in Georgia
Residence by Investment allows individuals to obtain residency in Georgia by making a qualifying investment in the country. This program is aimed at attracting foreign investors and promoting economic growth in Georgia.
Why You May Need a Lawyer
You may need a lawyer to assist you with navigating the complex legal requirements of the Residence by Investment program in Georgia, ensuring that your investment meets all the necessary criteria, and representing your interests in any legal proceedings related to your residency status.
Local Laws Overview
In Georgia, to qualify for residency by investment, you must make a minimum investment in real estate or other approved sectors. The program has specific requirements that must be met, such as maintaining the investment for a certain period of time and demonstrating the legal source of funds.
Frequently Asked Questions
1. What is the minimum investment required for Residence by Investment in Georgia?
The minimum investment required for Residence by Investment in Georgia is currently set at USD 300,000.
2. Can I include my family members in my Residence by Investment application?
Yes, you can include your spouse, children under the age of 18, and dependent parents in your Residence by Investment application.
3. How long does it take to obtain residency through the Residence by Investment program?
The processing time for Residence by Investment applications in Georgia can vary, but it typically takes a few months to receive approval.
4. Do I need to reside in Georgia to maintain my residency obtained through investment?
No, you are not required to reside in Georgia to maintain your residency obtained through investment. However, you must visit the country at least once a year to keep your residency active.
5. What are the benefits of obtaining residency through investment in Georgia?
Benefits of obtaining residency through investment in Georgia include visa-free travel to EU countries, access to the Georgian healthcare and education system, and the opportunity to establish business operations in the country.
6. Can I work in Georgia with a residence obtained through investment?
Yes, you are allowed to work in Georgia with a residence obtained through investment, but you must apply for a work permit separately.
7. What happens if my Residence by Investment application is rejected?
If your Residence by Investment application is rejected, you may have the opportunity to appeal the decision or reapply after addressing any deficiencies in your initial application.
8. Can I sell my investment property after obtaining residency through investment?
Yes, you are allowed to sell your investment property after obtaining residency through investment, but you must maintain the minimum investment amount for the required period of time.
9. What are the tax implications of obtaining residency through investment in Georgia?
As a resident of Georgia, you may be subject to certain tax obligations, including income tax on worldwide income if you are present in the country for a certain number of days per year.
10. Do I need to hire a lawyer to assist with my Residence by Investment application?
While hiring a lawyer is not mandatory for applying for Residence by Investment in Georgia, having legal representation can help ensure that your application is prepared accurately and in compliance with all relevant laws and regulations.
Additional Resources
For more information about Residence by Investment in Georgia, you can refer to the official website of the Ministry of Economy and Sustainable Development of Georgia or seek guidance from reputable immigration consultants specialized in Georgian residency programs.
Next Steps
If you require legal assistance with your Residence by Investment application in Georgia, it is recommended to engage the services of a qualified immigration lawyer with experience in handling residency applications and investments in the country. They can provide you with personalized advice and guidance throughout the application process to ensure a successful outcome.
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Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation.
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